A South African artist Ayanda Mabulu has been reportedly arrested outside the Johannesburg Stock Exchange (JSE) for showing a painting of disgraced Afrikaner businessman Marius Jooste receiving oral sex from a black woman.

A painting portraying a naked Eugene Terreblanche, an Afrikaner supremacist who was murdered in 2010, superimposed on Nazi swastikas.

He hung the painting outside the JSE, with heads of pigs placed at the bottom with money stuffed in the pigs’ mouth and the money scattered on the floor.

The police have not stated why the controversial artist was arrested.

Prior to Mabulu’s arrest, his representative said the JSE would be “a perfect new home” for the sexually explicit artwork.

his representative added that “His painting has been inspired by the hold white monopoly capitalism has had on South Africa namely the Steinhoff saga.”

The object of the sexually explicit artwork, Mr Jooste resigned as chief executive of global retail group Steinhoff about a year ago after it was accused of accounting irregularities. He denied any misconduct.